Pound rises to its highest level since the Brexit referendum

The pound has reached its highest level since the Brexit referendum, rising against the euro and dollar amid expectations of interest rate hikes. The Bank of England's index shows sterling at 86.4, reflecting a recovery since the referendum's aftermath. Traders attribute this rise to the UK's political stability and economic growth. An economist noted that the improving momentum in the UK is being recognized. A stronger pound could help reduce inflation and enhance consumer purchasing power, although rising energy prices may affect confidence. The Bank's Monetary Policy Committee is expected to announce an interest rate increase soon.